• Maturity Benefits For Different Term Life Insurance Plans

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    Term insurance plans are basically protection plans. They are particularly designed to protect your family against unforeseen circumstances. These are three types of term insurance plans available in India which include - increasing benefit, level benefit and decreasing benefit. A term insurance plans is a must for the bread winner of a family and for those whose health is not in a good condition.

    Maturity Benefits

    Maturity benefits refers to the amount received by a policyholder or nominee when a policy matures. A tem insurance policy needs to be active or in force to avail these maturity benefits. Term life insurance policies may include the followings as maturity benefits:

    • The basic sum assured.

    • Accrued guaranteed additions and vested simple reversionary bonuses (if any).

    • Terminal bonus (if applicable).

    Term Insurance With Maturity Benefit India

    The term life insurance plans with maturity benefits are slightly different form the traditional life insurance plans. Normally, a traditional term insurance policy does not offer any direct maturity benefits to the policyholder. They only provide death benefits when a policyholder dies within the policy term.

    So, if any buyer/policyholder wants to have maturity benefit, he/she can opt for a TROP (Term Return of Premium) plan. A term return of premium plan provides income replacement and refund the premiums at maturity, apart from offering all benefits of a traditional term life insurance plan. A TROP plan is a variant of pure term insurance plan and ensures maturity benefits, if the policyholder survives till the end of policy tenure.

    Key Features of Term Plans With Maturity Benefit

    The term life insurance plans with maturity benefits or term return of premium plans come with a lot of attractive features. Listed below are the key features of term life insurance plans with maturity benefits:

    Free-look period

    15 days for manually purchased policy

    30 days for policies purchased online.

    Entry Age

    Minimum entry age:18 years

    Maximum entry age: 65 years

    Grace period

    15 to 30 days based upon policy modes. Usually, 15 days for monthly mode policies and 30 days for other modes.

    Plan type

    Term insurance plans offers flexibility in terms of choosing a plan. One can choose a plan on single life basis or joint life basis.

    Premium paying term

    Single pay, Limited pay and Regular pay.

    Age at maturity

    25 year/ 65 years/ 75 years to whole life. Differ from policy to policy.

    Policy revival

    The policy can revived within two years from the date of unpaid premium.

    Premiums

    Based on sum assured and age of the applicant.

    Nomination

    Term life insurance policies with maturity benefits accept nomination.

    Premium paying frequency

    Yearly/ monthly.

    Sum Assured

    Vary from policy to policy offered by various life insurance companies.

    Policy coverage

    Death benefits and maturity benefits.

    Policy term

    Minimum- 5 years

    Maximum – 30-35 years

    Benefits of Term Insurance With Maturity Benefit

    The term life insurance plans with maturity benefits offer a number of attractive benefits which include:

    • Death Benefits: Term insurance plans offer death benefits to designated nominees. The nominees will receive these death benefits, if the life assured dies within the policy tenure.

    • Maturity Benefits: Normally, traditional life insurance policies don’t offer maturity benefits. But term return of premium life insurance policies offer maturity benefits by returning the total amount of premiums paid so far, provided a policy is continued till the end of term.

    • Tax Benefits: A policyholder can enjoy tax benefits over the premiums paid for term life insurance plans with maturity benefits. The premiums paid and the amount received are exempted from income tax assessment under section 80C and 10 (10D) of the Indian Income Tax Act, 1961.

    • Term life insurance plans with maturity benefits also offer additional riders such as Critical Illness and Accidental Death or Disability riders.

    • Term life insurance plans come at affordable premiums rates.

    Top 5 Term Insurance Plans With Maturity Benefit India

    Listed below are some of the term life insurance plans in India that come with maturity benefits.

    1. LIC Jeevan Pramukh: This is an Endowment Assurance term life insurance plan offered by Life Insurance Corporation of India. The plan provides financial protection against death throughout the policy term and provides maturity benefits, provided the policyholder holder survives till end of policy term. The policy would pay the sum assured accompanied by accrued guaranteed additions, vested simple reversionary bonuses and terminal Bonus( if any) in a lump-sum as maturity benefits.

    2. MetLife Suraksha TROP: It is a non-participating term life insurance plan offered by PNB MetLife. The plan not only provides life insurance coverage at nominal cost, it also offers the total of all premiums paid along with guaranteed additions.

    3. Max Life Premium Return Protection Plan: This is a term insurance plan with maturity benefits offered by Max Life Insurance Company. The plan not only protects your family against eventualities, it also returns all your premiums paid at maturity.

    4. Aviva iShieldPlan: This is an online non-linked non participating term life insurance plan offered by Aviva. The plan provides guaranteed survival benefits/ money back benefits at maturity which is 110% of total premiums paid.

    5. Tata AIA Life Insurance iRaksha TROP: This is an online term return of premium plan which a returns all total premiums paid, if the policyholder survives till the end of policy term.

    How to Choose The Best Term Insurance Plans With Maturity Benefits

    In order to choose the best the term life insurance plan with maturity benefits, you need to shop around and do a primary research. Then, compare the plans available in the insurance market and pick up a one based on your requirement.

    MATURITY BENEFITS RELATED ARTICLES

    Term Insurance Plans For Couples

    Term insurance is one of the most preferred type of insurance that many people seek today. This is mostly because of the benefits it offers, which include pure risk protection at an affordable price. Couples who are looking to purchase an insurance policy have the option of either going in for a single life insurance policy or a joint life insurance policy.

    In this article, we bring to you some important information about both these types of policies and also some important points of distinction between joint and single life insurance policies on various crucial parameters. You can also read about some term insurance policies which are available specially for couples as well .
    Read More...

    Things You Should Know About Term Insurance Plan Premium Calculators

    Those of us who have taken a loan must be familiar with a loan EMI calculator. But did you know, you can also find out the approximate premium you have to pay on your term insurance plan with the help of a term insurance premium calculator? Just like for loans, now you can take the help of an online premium calculator to find out how much an insurance plan is going to cost you.

    The working of these calculators is simple and the user is required to provide some policy related information such as their name, age, date of birth, plan type, sum assured, policy term, premium payment term, riders, and other related data. If you too are looking to get a term insurance plan, you will find this article helpful as it talks about some of the important features and benefits which these premium calculators offer and how they work.
    Read More...

    Top 10 Best Performing Term Insurance Plans In India

    Planning for the future is something which many of us avoid doing till the very last moment. However, as we grow older, our responsibilities not only towards our own selves but also our family members change. If you are looking after dependent family members, it is a part of your responsibility to ensure that your dependent family members are financially secure if something were to happen to you. For this purpose, a term insurance plan is the best life insurance option available for you.

    As you would know, term insurance is also considered to be the purest form of insurance which provides cover against the risk of death. This is a simple and easy to understand insurance plan which offers adequate financial protection to your loved ones if you were to pass away unpredictably.

    Not only that, you can also opt for a number of riders which can enhance the coverage provided by your term plan. Here, we have compiled a list the top 10 best performing term insurance plans in India. You can read about each plan in brief to get an idea about what each plan has to offer in terms of benefits, so you can decide which one is best suited for your needs.
    Read More...

    Term Insurance Vs. Endowment Policy

    Life insurance has become a must-have in today’s times which can help provide much-needed protection to our dependents in case of an uncertainty. For those looking to purchase a life insurance policy, there is no dearth of choices. To address diverse needs, there are different types of life insurance policies that are available, such as, endowment policies, term insurance policies, unit linked insurance policies, and more.

    For those who may be considering between an endowment policy and a term insurance policy, we bring a very helpful comparison between the two in this article. Read about the basic differences between these two policies on various parameters such as who they are ideal for, benefits associated with each policy, sum assured, etc., so you can decide which one is best for you.
    Read More...

    Term Insurance Plan with Maturity Benefits Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Excellent service"
      0.5 4.0/5 "Great!"
      Got the life insurance policy from the LIC around 2 years. This policy has the tenure of 15years. The customer support and the response is good with the LIC . They give better response to the customers. The plan benefits and the policy coverage is better with the LIC life insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 22, 2018
    • LIC Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. I have felt that the customer service is good one for me and the coverage value is also fine, also the plan benefits too. Response is also good one with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 22, 2018
    • LIC Life Insurance
      "Fantastic"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. Customer service is good one with them and the plan benefits are fine one for me, also every policies are traditional one. Response and other aspects are up to the mark.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 22, 2018
    • Future Generali Life Life Insurance
      "Good policy to hold"
      0.5 4.0/5 "Great!"
      I took accidental cover from Future Generali, they are providing all the benefits and the product is good. For normal accident also I can claim from them. Yearly I make the premium around Rs. 2900 for the tenure of one year. Total sum assured value of Rs. 15 lakhs. For disability they provides good coverage.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 21, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 20 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in 3 months through net banking and the payment options are convenient for me. I am also happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 21, 2018
    • LIC Life Insurance
      "Good Benefits policy"
      0.5 5.0/5 "Blown Away!"
      LIC provide good return and its more secured, they have good endowment plan it has good return, the premium is good enough compared to normal plan it has 10 to 20% extra on endowment policy it has good benefits, it gives good sum assured. tax benefits, financial security unforeseen events.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 20, 2018
    • Aegon Life Life Insurance
      "Good for Me and My Family"
      0.5 5.0/5 "Blown Away!"
      Last three month back I purchase Aegon life through online channel. The plan benefits are good, I get the maturity benefits of Rs. 34 lakhs after 25 Years . In case of any loss, my nominees get the amount of Rs. 7.50 lakhs. I make monthly premium around Rs. 5000 monthly month its fine.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Trusted Insurance Company"
      0.5 4.0/5 "Great!"
      LIC is a good company, but they don't have proper customer service to give reminder call on the premium. Plan benefits are average than other company like Bharathi Axa, TATA Birla etc. I took Jeevan bheema plan it has the tenure of 10 years , it has the premium Rs. 5000 in a year, I get sum assured value around 5 lakhs.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance policy from LIC. It is a cash back policy. I have taken this policy through agent. The representative explained about the benefits clearly. The policy coverage and plan benefits are satisfactory. I pay 4500 rupees quarterly through cash or net banking.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Excellent policy to use"
      0.5 5.0/5 "Blown Away!"
      I have got the Life insurance policy for my child and it was started from the month April. This policy has the tenure of 21years. I pay the premium amount of Rs,2700per month. The plan benefits and the policy coverage is better with this policy .
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Better Jeevan anand policy "
      0.5 5.0/5 "Blown Away!"
      Holding the Jeevan anand Life insurance policy for more than 2 years from the LIC. The customer support service is good with the LIC and they have better plan benefits and the payment options. I pay the premium amount through ECS which is easy and helpful.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I am using the LIC service and its very good. I am satisfied with the policy coverage and the plan benefits. I have several policies for the entire family. All are long term policies. I am paying the premium for annum sum around 80K to 1L. The payment was done quarterly through cheque as well as ECS.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Feb 20, 2018
    • SBI Life Life Insurance
      "Looking for better feature and service"
      0.5 3.0/5 "Satisfactory"
      Performance of people they wont helpful, they don't realize whom they are dealing with. If anything happens also no body is there to help me. SBI life is average, I have tenure of 15 years, premium monthly 1500. I will maturity benefits lump sum amount its nominal, tax benefits, life cover accidental cover
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Very Good"
      0.5 4.0/5 "Great!"
      Taken a life insurance policy with LIFE INSURANCE CORPORATION OF INDIA. Its an attractive insurance policy. They have given very good benefits and its a right policy. I would end up saying that it is a very good with LIFE INSURANCE CORPORATION OF INDIA.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Good to invest"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance policy from LIC. I am using the service for a very long time. I never contacted the customer service. It was taken through an agent. The policy coverage and the plan benefits. I believe its a cash back policy. I am paying monthly 8K through net banking.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Its Good"
      0.5 4.5/5 "Excellent!"
      I wont deal with any LIC agent, I make payment by myself through online, the payment gate is convenient. I took lot of policies, each has different tenure. Hope I will be getting good sum assured after the maturity period with the tax benefits.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Very good for child"
      0.5 4.0/5 "Great!"
      Got a policy for my child and I have bought this policy around 10 years ago from LIC. This policy has the tenure of 20years. The customer support is better with the LIC. I pay the premium amount of Rs,11,000 every year , the plan benefits and the coverage is good with this policy .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold the Money back life insurance policy with the LIC for past 15years. This year this policy is going to get matured. I pay the premium amount of Rs,5000 every year. I get the money back amount of Rs,12000 every 4 years once. The plan benefits and the coverage is good with this policy .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Average"
      0.5 3.5/5 "Pretty good"
      I took my life insurance policy from LIC. I am using the service for past 4 years. I have taken this policy through an agent. I pay the premium directly to the office. Am paying yearly around 3K for my policy. The coverage and the plan benefits are average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 6-7 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in 3 months through cash and i am convenient with the payment options which they are giving. The name of the policy is Jeevan Anand and i am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 15, 2018
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